Successful Entrepreneurship - The Trinity of Strategy, the Business Model Canvas, and the...
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WELCOME Tuesday, June 17 th, 2014 What Does It Take To Become a Successful Entrepreneur? Meetup Sponsored by:
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Chicago NW Suburbs Entrepreneurs Meetup - 06/17/2014 During this event we would have a special presentation by successful Entrepreneur and Business Leader, Tom Caprel, who will enlighten us by discussing the three key absolute things every entrepreneur must know before heading into any venture. Additionally Tom will introduce the audience to the Business Model Canvas as an invaluable tool that every small business owner and entrepreneur must add to their survival toolkit. Think of the Business Model Canvas as the modern day Business Plan for the fast-paced world we live in.
Transcript of Successful Entrepreneurship - The Trinity of Strategy, the Business Model Canvas, and the...
WELCOME
Tuesday, June 17th, 2014
What Does It Take To Become a Successful Entrepreneur?
Meetup Sponsored by:
Successful Entrepreneurship
AGENDA
I. Introduction
II. Curriculum for Being an Entrepreneur
III. Introduction to the Business Model Canvas
IV. Understanding the Canvas Through the Discipline of Market Leaders
V. Groupon
VI.Tips for using the Canvas
SpeakersTom Caprel was a successful entrepreneur for more than 20 years, starting and growing several businesses prior to founding BreakThough Results, Inc. As an innovative entrepreneur, he developed a passion for the leading trends in organizational and leadership development which led him to step out of his last technology business and create a powerful executive coaching and strategy practice that has served clients for the past 14 years. He has cultivated individual and corporate transformations using his Breakthrough Moments methodology.
Curriculum for Being an Entrepreneur
1. Strategy definition and effective implementation
2. A deep understanding of the importance of the decision-making process. (Effective decisions are created from the future so as not to re-create the past.)
3. Navigating the entrepreneurial lifecycle with ease.
Strategy; a definition
● Strategy is how a company or an
individual gets to its desired future state
from the present
● A company does this by seeking to
manipulate and shape the environment
around it
The Trinity of Strategy, the Canvas, and the Environment
Strategy
The EnvironmentSocialTechnicalEconomicPolitical
The Canvas
The Business Model CanvasKey Partners
Key Activities
Key Resources
Value Proposition CustomerRelationships
Channels
CustomerSegments
Cost Structure Revenue Streams
The Business Model CanvasKey Partners
Strategic alliancesCoopetitionJoint venturesBuyer supplier
Key Activities
ProductionProblem solvingPlatform / networkCustomer support
Key Resources
PhysicalIntellectualHumanFinancial
Value Proposition CustomerRelationships
Channels
CustomerSegments
Cost Structure Revenue Streams
The Business Model CanvasKey Partners Key Activities
Key Resources
Value Proposition CustomerRelationships
Personal assistanceDedicated pers. AsstSelf serviceAutomated serviceCommunitiesCo-creation
ChannelsDirect Sales Web StoresIndirect Partner store Wholesale
CustomerSegments
Mass marketNiche marketSegmentedDiversifiedMulti sided platformMulti sided markets
Cost Structure Revenue Streams
The Business Model CanvasKey Partners
Key Activities
Key Resources
Value Proposition CustomerRelationships
Channels
CustomerSegments
Cost Structure
Fixed costsVariable costsEconomies of scaleEconomies of scope
Revenue Streams
Asset salesUsage feesSubscription feesLending renting leasingLicense fees
The Business Model CanvasKey Partners
Key Activities
Key Resources
Value Proposition
NewnessPerformanceCustomizationGetting the job doneDesignPriceCost reductionAccessibilityConvenience
CustomerRelationships
Channels
CustomerSegments
Cost Structure Revenue Streams
Understanding the Canvas through Discipline of Market Leaders
YProduct Leadership Customer Intimacy
Operational Excellence
Understanding the Canvas through Discipline of Market Leaders
YProduct Leadership Customer Intimacy
Operational Excellence
CustomerRelationships
Personal assistanceDedicated pers. AsstSelf serviceAutomated serviceCommunitiesCo-creationChannels
DirectSalesWebStores
IndirectPartner storeWholesale
CustomerSegments
Mass marketNiche marketSegmentedDiversifiedMulti sided platformMulti sided markets
Understanding the Canvas through Discipline of Market Leaders
YProduct Leadership Customer Intimacy
Operational Excellence
CustomerRelationships
Personal assistanceDedicated pers. AsstSelf serviceAutomated serviceCommunitiesCo-creationChannels
DirectSalesWebStores
IndirectPartner storeWholesale
CustomerSegments
Mass marketNiche marketSegmentedDiversifiedMulti sided platformMulti sided markets
Key Partners
Strategic alliancesCoopetitionJoint venturesBuyer supplier
Key Activities
ProductionProblem solvingPlatform / networkCustomer support
Key Resources
PhysicalIntellectualHumanFinancial
Understanding the Canvas through Discipline of Market Leaders
YProduct Leadership Customer Intimacy
Operational Excellence
CustomerRelationships
Personal assistanceDedicated pers. AsstSelf serviceAutomated serviceCommunitiesCo-creationChannels
DirectSalesWebStores
IndirectPartner storeWholesale
CustomerSegments
Mass marketNiche marketSegmentedDiversifiedMulti sided platformMulti sided markets
Cost Structure
Fixed costsVariable costsEconomies of scaleEconomies of scope
Revenue Streams
Asset salesUsage feesSubscription feesLending renting leasingLicense fees
Key Partners
Strategic alliancesCoopetitionJoint venturesBuyer supplier
Key Activities
ProductionProblem solvingPlatform / networkCustomer support
Key Resources
PhysicalIntellectualHumanFinancial
Value Proposition
Understanding the Canvas through Discipline of Market Leaders
YProduct Leadership Customer Intimacy
Operational Excellence
CustomerRelationships
Personal assistanceDedicated pers. AsstSelf serviceAutomated serviceCommunitiesCo-creationChannels
DirectSalesWebStores
IndirectPartner storeWholesale
CustomerSegments
Mass marketNiche marketSegmentedDiversifiedMulti sided platformMulti sided markets
Cost Structure
Fixed costsVariable costsEconomies of scaleEconomies of scope
Revenue Streams
Asset salesUsage feesSubscription feesLending renting leasingLicense fees
Key Partners
Strategic alliancesCoopetitionJoint venturesBuyer supplier
Key Activities
ProductionProblem solvingPlatform / networkCustomer support
Key Resources
PhysicalIntellectualHumanFinancial
Open innovation, open sourcing, and co-creation
● Key activities and key resources are split between key partners and customer segments
Strategic dissonance
● Change in the value proposition for a customer segment results in other building blocks being out of date
Disintermediation
● Customer relationships and channels change which changes the value proposition for a given segment
Groupon
Some tips to using the Canvas
● Have 2 canvases for your company; current state and future state
● Use the canvas to better understand what is happening within your industry by doing what if modeling
● Use the canvas to better understand your competitor business models and business models of companies in general
● Use the canvas to better understand the evolution of business models
Q & A
THANK YOU!
Stay Tuned For Future Meetups
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